Transcarent and Accolade Take Major Step Forward in Merger Process
Deal News | Feb 24, 2025 | Globenewswire
Transcarent and Accolade have announced the expiration of the Hart-Scott-Rodino waiting period concerning their planned merger, marking significant progress towards their union expected in the second quarter of 2025. This merger aims to integrate Transcarent's AI-driven care solutions with Accolade's health advocacy and primary care offerings, promising a new wave of personalized healthcare services. The transaction still requires Accolade's stockholder approval alongside other customary closing conditions. Financial advisory roles have been assigned to Evercore for Transcarent and Morgan Stanley for Accolade, with legal advisory by Wilson Sonsini and Cooley respectively. Both CEOs have expressed excitement about enhancing healthcare accessibility and efficiency through this merger. The communication also hints at potential benefits and challenges typical in such large-scale transactions.
Sectors
- Healthcare Services
- Technology
Geography
- United States – Both Transcarent and Accolade operate within the United States, and the regulatory considerations are under U.S. laws and practices.
Industry
- Healthcare Services – The merger involves companies providing integrated healthcare services and technology solutions aimed at improving care access and efficiency.
- Technology – Transcarent’s use of generative AI in healthcare navigation highlights the merger's technological innovation aspect.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Transcarent | Target Company | Company | Transcarent provides high-quality, accessible healthcare solutions via generative AI-powered platforms. |
| Accolade | Selling Company | Company | Accolade delivers personalized healthcare services, including primary care, navigating health needs for individuals and organizations. |
| Evercore | Financial Advisor to Transcarent | Company | Advises Transcarent on financial matters related to the merger. |
| Wilson Sonsini Goodrich & Rosati | Legal Advisor to Transcarent | Company | Provides legal advice to Transcarent for the merger process. |
| Morgan Stanley & Co LLC | Financial Advisor to Accolade | Company | Offers financial advisory services to Accolade regarding the merger. |
| Cooley LLP | Legal Advisor to Accolade | Company | Legal advisors for Accolade in the merger context. |
| Glen Tullman | CEO of Transcarent | Person | Leading Transcarent through the merger with Accolade. |
| Rajeev Singh | CEO of Accolade | Person | Driving Accolade through the merger process with Transcarent. |